Which act is responsible for establishing the Real Estate Assurance Fund?

The Real Estate Assurance Fund is established under the Real Estate Act. This legislation provides a framework for real estate transactions and sets guidelines for the practice of real estate within the jurisdiction. The purpose of the Real Estate Assurance Fund is to protect consumers by providing compensation in the event of misconduct by real estate professionals. This alignment with consumer protection underscores the importance of the Real Estate Act in regulating the industry and ensuring accountability amongst practitioners.

While the other options mention related legal frameworks, they do not specifically pertain to the assurance fund's establishment. Recognizing this distinction helps clarify the critical role the Real Estate Act plays in creating structures that support both the industry and consumer rights.